The future of Venezuela’s oil & gas sector: in the new issue of Offshore Technology Focus

28 March 2019 (Last Updated March 28th, 2019 10:09)

In this issue: What government upheaval in Venezuela will mean for oil and gas business, a new exploration drive in Ireland, Shell’s real-time environmental impact assessment tool, Baker Hughes’ new approach to subsea development, BP’s Tamara Holmgren on women in oil & gas, and more.

The future of Venezuela’s oil & gas sector: in the new issue of Offshore Technology Focus

Offshore Technology Focus is back with a new issue packed with industry insight. Read it here for free in the web browser of any device.

The Irish Offshore Operators’ Association has published a report on the potential value of a domestic oil and gas industry to Ireland, putting the value at €11bn in tax revenues, as well as more than 1,500 jobs. We find out more about the benefits and challenges of developing Ireland’s offshore sector.

We also look into the falling costs of offshore decommissioning, speak to Baker Hughes, a GE Company, about its new suite of subsea technologies, and consider how economic concerns and government upheaval in Venezuela are impacting the country’s oil and gas industry.

Also in this issue, we chart the highs and lows of OPEC through an interactive timeline, hear from BP’s Tamara Holmgren about encouraging more women to pursue careers in STEM and the oil and gas industry, and profile a new technology being used by Shell to gather real-time data to evaluate the impact of operations and environmental conditions of FPSOs.

Finally, we take a visual tour around Diamond Offshore’s Ocean GreatWhite, the largest semi-submersible drilling rig in the world, which arrived at Kishorn Port in Scotland earlier this year.

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In this issue

IOOA’s Patrick Shannon on plans to ramp up oil and gas exploration in Ireland

A report by the Irish Offshore Operators’ Association (IOOA) and PwC claims the Irish offshore industry could deliver €11bn in tax revenues and create 1,500 jobs a year over a project’s lifetime. Julian Turner talks to IOOA chairman Patrick Shannon about Ireland’s oil and gas potential.

Read the interview.

Venezuela: a petrostate in peril

As humanitarian turmoil and political tensions continue in Venezuela, the country’s oil industry is in near tatters, strangled by US sanctions and embroiled in a row with neighbouring Guyana. As sanctions continue to bite and the industry struggles to find new buyers, Heidi Vella considers what the future might hold.

Read the feature.

Good news: the falling costs of offshore decommissioning

Oil and Gas UK predicts that offshore decommissioning costs will run at around £1.5bn a year over the next decade – 20% lower than forecast in 2017 – good news for an industry that is reported to require more than £24bn in UK taxes for end of life costs in the coming years. Julian Turner reports.

Read the feature.

Revamped Kishorn Port hosts an offshore titan

Diamond Offshore’s Ocean GreatWhite, the largest semi-submersible drilling rig in the world, arrived at Kishorn Port in northwest Scotland in January. The arrival is a great success for the port, as Chris Lo finds out.

Take a look at our picture feature.

Talking rapid change and ‘grey’ lines in technology with BHGE

At this year’s BHGE annual event, Energy Forward: What the Future Demands, BHGE vice president and CTO John Kerr spoke to Molly Lempriere about how the company’s approach works and why this is important for a changing industry.

Read the interview.

Real-time environmental impact assessment: a powerful tool for FPSOs

A consortium involving Shell is developing technology to gather real-time data to evaluate the impact of operations and environmental conditions of FPSOs. Molly Lempriere takes a look at how the technology could change the lifespans of platforms and protect their surroundings.

Read our tech profile.

Through time: the highs and lows of OPEC

Qatar’s withdrawal from OPEC last year brought an end to its 57-year association with the world’s most powerful oil oversight body, the latest disruption to hit an organisation that has dominated the global oil industry for over half a century. JP Casey tracks the highs and lows of OPEC.

Check out the timeline.

BP’s Tamara Holmgren on women in oil and gas

Tamara Holmgren is BP’s projects and modifications manager for the eastern hemisphere. A passionate advocate of women in the oil and gas industry, she was named the 2015 outstanding woman in oil and gas engineering by the European Women in Construction and Engineering awards. She spoke to Molly Lempriere about her career in oil and gas, and why more women should look for jobs in the industry.

Read the interview.

Next issue preview

The Dutch Public Prosecutor’s Office is preparing fresh criminal charges against Shell relating to $1.3bn deal in 2011 to buy drilling rights at offshore oil field OPL 245 in Nigeria. In light of these latest allegations, we look at this deal and Shells operations in the country.

We also look at the effect Total SA’s recent major discovery will have on South Africa, investigate the motivations behind Norway’s decision to divest its sovereign wealth fund from oil and gas and what Ineos’ new investment will mean for the Forties Pipeline system.

The UK’s Department for International Trade tells us how it’s supporting businesses in the subsea and offshore sectors, we profile the start-ups chosen by the Oil & Gas Technology Centre under its TechX Pioneer Accelerator Programme and question whether more needs to be done to protect offshore rigs from underwater mudslides.